Tax Cuts and Jobs Act (TCJA)

On 12/22/17, President Trump signed into law the Tax Cuts and Jobs Act (TCJA).  Some have hailed it as the largest major tax reform in over three decades. This sweeping tax package changes the way federal income taxes are calculated bringing a host of planning opportunities as well as uncertainties that may change your tax situation.  Feel free to give us a call today to receive more information and resources on how these changes could impact your personal tax plan.

NJ Sales Tax 2018

Please review the below notification provided by the New Jersey Division of Taxation.  Feel free to email us or call the office with any questions or concerns.

Starting January 1, 2018, the Sales and Use Tax rate will decrease from 6.875% to 6.625%.

Please prepare to update your records accordingly. The new tax rates will be:

  • Atlantic City Luxury Tax
    • 12.625% (9% Atlantic City Luxury Tax and 3.625% New Jersey Sales and Use Tax for sales subject to both taxes ‒ other than alcoholic beverages by the drink);
    • 9.625% (3% Atlantic City Luxury Tax and 6.625% New Jersey Sales and Use Tax for alcoholic beverages that are sold by the drink in Atlantic City);
  • Boat and Other Vessels Sales Tax ‒ 3.3125% (50% reduced rate);
  • Cape May County Tourism Tax ‒ 8.625% (6.625% New Jersey Sales and Use Tax and 2% Tourism Tax for Wildwood, Wildwood Crest, and North Wildwood). This rate is in addition to the 1.85% Tourism Assessment and the 3.15% State Occupancy Fee on hotel occupancies;
  • New Jersey Sales and Use Tax ‒ 6.625%;
  • Salem County Sales Tax ‒ 3.3125% (50% reduced rate);
  • Urban Enterprise Zone Sales Tax ‒ 3.3125% (50% reduced rate).

If you have any questions:

  • Visit here for more information about New Jersey Sales and Use Tax;
  • Call the Division of Taxation’s Customer Service Center at 609-292-6400. We’re available Monday, 8:30 a.m. to 5:30 p.m. and Tuesday through Friday, 8:30 a.m. to 4:30 p.m., except State holidays; or
  • Email us.